Hartford Hospital Announces First Employees to Purchase Homes As Part of Housing Incentive Program

August 01, 2013

Hartford, CT – Hartford Hospital is proud to announce the first four employees to purchase homes as part of the Hartford Home Ownership Incentive Program (HIP).

In May 2012, the MetroHartford Alliance unveiled the new program along with the City of Hartford, the Southside Institutions Neighborhood Alliance and area employers. The program provides financial incentives to employees to purchase homes in the Frog Hollow, Asylum Hill or other Hartford neighborhoods.

Hartford Hospital employees who applied on a first-come first-serve basis and who met certain eligibility criteria were awarded $10,000 in interest-free, forgivable loans to buy homes in Hartford.

“Home ownership is the American dream. We are privileged to be able to make this dream a reality for our employees,” said Jeffrey Flaks, President and CEO, Hartford Hospital. “For 159 years, Hartford Hospital has been committed to improving the quality of life and economic vitality of our community and our staff. We work here, we shop here, and now more of us live here.”

Studies have shown that increased homeownership within a community stabilizes and revitalizes the community. Homeowners are more likely to maintain and improve their property, thereby improving the whole neighborhood.

“We are excited to be sharing in this special day with Hartford Hospital and congratulating Hartford’s newest homeowners,” said Melvyn Colón, Executive Director, Southside Institutions Neighborhood Alliance (SINA). “Our mission is to transform the physical character of neighborhoods and to create home ownership opportunities, and we could not do it without the help of committed partners like Hartford Hospital.

The Hospital is using this program in a targeted way that contributes to the revitalization of the communities that serve as its home. Home ownership in Hartford also saves commuting time and gas while giving staff easy access to the many benefits Hartford has to offer such as museums, entertainment, parks, libraries and restaurants.

“The Alliance is proud to be supported by committed organizations in affirming the City’s economic growth and revitalization,” said Oz Griebel, CEO, MetroHartford Alliance. “Community success depends on a strong infrastructure and this is the start of building that foundation with sustainable neighborhoods.”

The first set of employees expects to close on their properties in the coming days.

About Hartford Hospital Hartford Hospital, founded in 1854, is one of the largest teaching hospitals and tertiary care centers in New England with one of the region's busiest surgery practices. It is annually ranked among America's Best Hospitals by US News & World Report and has been recognized nationally for the quality of many of its programs, including cardiology, cancer, stroke and joint and spine care. The 867-bed regional referral center provides high-quality care in all clinical disciplines. Among its specialize departments is The Institute of Living, a 114-bed mental health facility with a national and international reputation of excellence and The Jefferson House, a 104-bed long-term care facility. The hospital’s major centers of clinical excellence include cardiology, oncology, emergency services and trauma, mental health, women’s health, orthopedics, bloodless surgery and advanced organ transplantation. Hartford Hospital owns and operates the state’s only air ambulance system, LIFE STAR.